UAE offers stable pro-business leadership and business-friendly environment: Executive Director – Operations, ZonesCorp, UAE
As a precursor to Hon’ble Prime Minister’s visit to UAE as the Chief Guest for the forthcoming World Government Summit, CII Northern Region organised an interactive session with UAE’s Higher Corporation for Specialized Economic Zones (ZonesCorp) in Chandigarh. The session aimed to showcase the investment opportunities that exist in the Emirate of Abu Dhabi.
Stable pro-business leadership and strong multi-cultural educated workforce are Abu Dhabi’s strong points which have resulted in an investment-friendly environment, said Mr Othman Al Khoury, Executive Director – Operations, Zones Corp, UAE. With a relationship between Abu Dhabi and India spanning over 50 years, the bilateral trade between two nations amount to more than US$50 billion, he added.
The strategic location of Abu Dhabi, with close proximity to many of world’s population centres, is one of the major advantages, Mr Khoury pointed out. Tax free income, import duty exemptions, free trade agreements with 21 countries all lead to lower operating costs. One stop investor services centre and fast track government approval facilitate doing business in Abu Dhabi, highlighted Mr Khoury.
Providing an overview of ZonesCorp, largest operator of purpose-built industrial zones in UAE, Mr Khoury gave a presentation detailing the facilities offered at the zone to the investors. The zone hosts a number of complementary industries which include steel, metals, construction, auto, logistics, oil & gas services, to name a few. The Abu Dhabi Industrial City hosts over 650 investors which include more than 80 from India, he added. ZonesCorp offers a world class infrastructure whereby each plot is provided with uninterrupted supply of utilities comprising of gas, water, electricity and superior telecom connections, Mr Khoury said.
Going forward, ZonesCorp plans to develop a maritime cluster which will be designed to unify Abu Dhabi’s geographically diversified maritime activities. Its proximity to the planned logistics cluster will have a further positive impact. The proposed Logistics Park will enhance volumes of trade between Abu Dhabi and Saudi Arabia, mentioned Mr Khoury.
Earlier, while delivering the Welcome Remarks, Mr Sofi Zahoor, Vice Chairman, CII Chandigarh Council and Senior Director India – HR & Operations, QuarkXPress Publishing R&D (India) Pvt Ltd informed the delegates about the UAE-India Infrastructure Investment Fund which has been set up with a target of US$75 billion to support investment in India’s infrastructure sector. He also mentioned about CII’s engagements with UAE and the GCC region since the last two decades. It is now the businessmen of both the countries who need to join hands together to take advantage of the opportunities that exist in India and UAE, Mr Zahoor opined.
While proposing the Vote of Thanks, Mr Amarbir Singh, Past Chairman, CII Chandigarh Council and Managing Director, Indian Polymer Industries said that the complementarities between India and UAE can result in a win-win situation. He mentioned that CII regularly organizes the roadshows, informative seminars, networking and interactive sessions in honor of the visiting dignitaries all across the country. Investors from Chandigarh would look forward to visit Abu Dhabi to get an idea of the investment scenario over there, he added.